CLAIM #7360 · Amazon.com Inc (AMZN) · 2024Q2 earnings call · Aug 1, 2024 · due Aug 1, 2026
“I continue and the team continues to believe that we have the opportunity to expand the margin in our stores business.”
Andrew Jassy · CEO
How to check this claim
Look at: North America segment operating margin, as reported quarterly
It came true if: North America segment operating margin higher than the prior-year comparable quarter in at least one of the next several quarterly reports
Where: Amazon quarterly earnings release / 10-Q segment reporting
In context
“t stock-based comp step up, the stores part of the North America segment, increase the margin again last quarter. So we're continuing to see strong improvements in cost to serve as well as improvement in speed, added selection, better safety. So a lot of the key areas that we're hitting on are strong. What you're seeing for the segment is that some of our investment areas had a tick up in expenses and investment in Q2 versus Q1. And that's not unheard of. Q1 is usually the lightest investment quarter, things like Prime Video and devices have less investment going on in those quarters. But the one thing I'd point out, I think we mentioned it is Kuiper stepping up a bit in Q2 versus Q1 as we start to build satellites that we'll launch in Q3 and Q4 this year. And your second question, Brian, I continue and the team continues to believe that we have the opportunity to expand the margin in our stores business. And as I've said on a number of the calls that we've done, it's not going to happen in one quarter, it's not going to happen in one fell swoop, it's going to take work over a long period of time. But I think that one of the silver linings, if you will, about year and half ago in the ricochet of the pandemic and all the growth that we had and the cost to serve challenges that we had was, it really forced us to reevaluate everything in the network. And really, even our most closely felt beliefs over a long period of time. And what it did was unveiled a number of opportunities that we believe we have to keep driving cost to serve down. And the first one that you've seen play out over the last year or so has been the regionalization of the U.S. network. And I think one thing to remember about”
Verify independently
SEC filings for AMZN ↗ · Claim quote is verbatim from the 2024Q2 earnings call.